Welcome to our dedicated page for Elite Pharmaceuticals news (Ticker: ELTP), a resource for investors and traders seeking the latest updates and insights on Elite Pharmaceuticals stock.
Elite Pharmaceuticals, Inc. develops oral sustained and controlled release products. Elite's strategy includes assisting partner companies in the life cycle management of products, improving off-patent drug products, and developing generic versions of controlled release drug products with high barriers to entry. With four ANDA products partnered with Tagi Pharma, Elite is making strides in the pharmaceutical industry. Elite also manufactures Lodrane D® and receives royalties for this allergy product partnered with ECR Pharmaceuticals, a wholly owned subsidiary of Hi-Tech Pharmacal. Their lead pipeline products, Eli-216 and Eli-154, are novel sustained-release oral formulations of opioids for chronic pain treatment.
Elite Pharmaceuticals, Inc. (OTCBB:ELTP) has filed an Abbreviated New Drug Application (ANDA) with the US FDA for a generic drug in the antimetabolites class, which had reported annual sales of $42 million in the generic market for the year ending December 2022. This move reflects Elite's ongoing commitment to developing niche generic products. Elite Pharmaceuticals specializes in oral, controlled-release drug products and operates a cGMP and DEA registered facility in Northvale, NJ. The company previously licensed several generic products to partners such as Prasco, LLC and TAGI Pharma. Forward-looking statements in the release caution investors about risks and uncertainties regarding future performance and FDA approvals.
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